iiNet reports solid growth in 2008-09

19 Aug 2009

Australian broadband provider iiNet has released its financial results for the twelve months ended 30 June 2009, revealing a 67% year-on-year increase in revenue to AUD418.3 million (312.9 million) on the back of increased customer numbers. The operator also posted a 42% increase in earnings before interest, tax, depreciation and amortisation (EBITDA) compared to the previous year, at AUD67.2 million. Net profit rose 44% y-o-y to AUD25.6 million.

At the end of the twelve-month period iiNet reported a total of 215,600 on-net broadband customers, with a further 205,400 off-net, up from 172,900 and 200,600 respectively. In addition, the operator reported a 123% annual growth in the number of subscribers to its Naked DSL service, with 67,000 at end-June 2009. Dial-up subscribers, meanwhile, continued to decline, down from 101,300 at end-June 2008 to 66,800 a year later.

In separate but related news iiNet has revealed that the launch of its IPTV service is now unlikely to take place before 2010, with the company’s managing director, Michael Malone, noting: ‘It will probably be in the first half of next year. We are still playing around with our own set-top box and looking at a couple of others.’ The operator had originally been expected to introduce the service before the end of this year.

Australia, iiNet (incl. Internode)